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5 marksLimited Liability Companies

CSEC Principles of Accounts · January 2009 · Paper 2 · Question 6(a)

Serve-Me-Well Ltd. trial balance and year-end adjustments/recommendations as at November 30, 2008 are given.

Prepare the Profit and Loss Appropriation Account for Serve-Me-Well Ltd. for the year ended November 30, 2008.

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Other parts of this question

  1. 6(b)Prepare a Classified Balance Sheet in vertical style for Serve-Me-Well Ltd. as at November 30, 2008.[13 marks]
  2. 6(c)(i)State what a negative working capital indicates about the financial position of a business.[1 mark]
  3. 6(c)(ii)Identify ONE method, other than issuing shares, which Serve-Me-Well could have used to finance the business.[1 mark]

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